First Solar Connects Luz del Norte to Chilean Central Grid

Company is expanding presence in Chile, pursuing partnerships

October 28, 2015 01:56 PM Eastern Daylight Time

COPIAPÓ, Chile--(BUSINESS WIRE)--The first two blocks of First Solar, Inc.’s (NASDAQ: FSLR) Luz del Norte
solar project have been connected to the Chilean central grid, the
company announced today. The interconnect includes approximately half of
the project’s total 141 megawatt (MW) capacity.

“This exciting milestone is proof of how utility-scale solar is a viable
energy alternative for Chile right now,” said Cristian Sjogren, First
Solar’s Chile country manager. “Luz del Norte harnesses one of the
region’s richest resources, allowing Chile to reduce dependence on
fossil-based fuels and meet renewable energy targets set by the national
Energy Agenda.” Sjogren pointed out that the project is also an example
of how the global energy transition towards clean renewable energy
alternatives is taking place in Latin America.

Construction of the Luz del Norte power plant, located 58 kilometers
north of the city of Copiapó, began in August 2014 and is expected to
enter full commercial operation by January 2016. At that time, it will
be the largest solar plant in Latin America, generating enough
electricity to meet the needs of more than 174,000 homes, avoiding over
185,000 metric tons of CO2 emissions per year. First Solar is the
developer and owner of Luz del Norte. First Solar is actively seeking a
permanent off-taker of power generated by the project, which is
currently being sold on the open market.

“We are proud to leverage our industry-leading expertise in project
development, high energy yield PV technology, grid integration and
energy asset management to create a truly remarkable renewable energy
asset for Chile,” said Joe Kishkill, First Solar’s President,
International. “First Solar is a strong, reliable technology partner,
and we are eager to work with other solar developers with projects in
Chile. There is great opportunity to continue solar development at the
scale of Luz del Norte.”

Sjogren said First Solar’s presence in Chile has expanded this year,
with a permanent office in Santiago that includes more than 30 employees
supporting more than 1GW of regional solar development projects and
partnership opportunities. “First Solar is positioned to offer
comprehensive PV energy solutions to meet the needs of our customers
from high efficiency modules and mounting solutions to turnkey utility
solar solutions. We believe strong, mutually beneficial partnerships are
critical to the continued growth of a reliable, sustainable solar energy
market,” Sjogren said. “Projects like Luz del Norte represent only the
beginning of what is to come of solar energy in this region. First Solar
is committed to taking energy forward in Chile.”

Sjogren noted that the company has also worked to be an active member of
the communities in which it is doing business. Last year, First Solar
developed and funded a special job training program in Copiapó intended
to help young people obtain technical skills for careers in renewable
energy. And following the storms and flooding that occurred last March
in the Atacama region, First Solar’s Luz del Norte team arranged for a
US$50,000 donation directed towards rebuilding damaged infrastructure
and service in the region. Through Desafio Levantemos Chile, First
Solar’s donation was focused on providing assistance to the town of
Diego de Almagro, one of the most heavily damaged communities.

Upon completion,Luz del Norte will generate power using 1.7
million of First Solar's high energy yield thin film photovoltaic
modules. First Solar's advanced PV modules have set the industry
benchmark with over 10GW installed worldwide and having recently
achieved a world record 18.6% thin film module conversion efficiency,
demonstrating a record module that is more efficient than the best
multi-crystalline module recorded. This achievement reinforces
confidence in First Solar's ability to deliver sustained product
improvements consistent with its long-term technology roadmap. With both
a superior temperature coefficient and superior spectral response, First
Solar’s PV technology has been independently certified for reliable
performance in high temperature, high humidity, extreme desert, and
coastal environments.

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic
(PV) solar systems which use its advanced module and system technology.
The company’s integrated power plant solutions deliver an economically
attractive alternative to fossil-fuel electricity generation today. From
raw material sourcing through end-of-life module recycling, First
Solar’s renewable energy systems protect and enhance the environment.
For more information about First Solar, please visit www.firstsolar.com.

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